Trending: Apr 16- Apr 23 : In need of cash, India chases $117 billion in elusive back taxes - Livemint

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In need of cash, India chases $117 billion in elusive back taxes
In need of cash, India chases $117 billion in elusive back taxes - Livemint
Tax arrears nearly quadruple in six years; official says only 15-20% is realistically recoverable


Private sector banks lead PSBs in sanctioning and disbursing funds to renewable energy sector
Private sector banks lead PSBs in sanctioning and disbursing funds to renewable energy sector - Economic Times
Private banks were far ahead in disbursals too, having already paid out Rs 10,255.51 crore, or 11.59% of their target by end February.



Why India needs vibrant small enterprises
Why India needs vibrant small enterprises - Livemint
The Narendra Modi govt must focus on enabling them for inclusive growth


Sebi begins audit of NSEL brokers
Sebi begins audit of NSEL brokers - Livemint
The audit will also check whether there was mis-selling of NSEL products with promise of assured returns


Don't overplay NPA issue to extent of debilitating lending: Banks Board Bureau chairman Vinod Rai
Don't overplay NPA issue to extent of debilitating lending: Banks Board Bureau chairman Vinod Rai - Economic Times
The former Comptroller and Auditor General said not all loan defaults are willful and not all lending activities can be branded as corrupt practice or criminal misconduct.


FM Arun Jaitley takes a dig at Vijay Mallya, says banks should ensure no defaulter gets away
FM Arun Jaitley takes a dig at Vijay Mallya, says banks should ensure no defaulter gets away - Economic Times
Amid a row over recovery of debt from Mallya, Jaitley said it was responsibility of banks to ensure no defaulter manages to get away.


RBI eases pressure on banks; prunes list of firms whose loans need to be provisioned for
RBI eases pressure on banks; prunes list of firms whose loans need to be provisioned for - Economic Times
Banks were forced to make substantial provisions in the December quarter following the AQR. Due to this, a number of banks reported record losses.


Tide Water to buy UK-based lubricant maker Price Thomas
Tide Water to buy UK-based lubricant maker Price Thomas - Livemint
Maker of Veedol and Eneos concludes an agreement to acquire Price Thomas Holdings for

Sebi likely to ease mutual fund advertising, promotion norms
Sebi likely to ease mutual fund advertising, promotion norms - Livemint
Rules may also be relaxed on standard risk statements and the format of commercials, fund branding activities


Overstating banking stress will debilitate lending: Vinod Rai
Overstating banking stress will debilitate lending: Vinod Rai - Times of India
Not all loan defaults are wilful, not all lending activity can be branded as corrupt or criminal, says Bank Board Bureau chief Vinod Rai


HDFC Standard Life announces IPO; Parent HDFC to sell 10% stake
HDFC Standard Life announces IPO; Parent HDFC to sell 10% stake - Economic Times
The mortgage lender will dilute 10 per cent of its 61.63 per cent stake in HDFC Standard Life, making it Indias first insurance IPO.


MUDRA Bank invests Rs 50 crore in securitisation deal with Janalakshmi Financial Services
MUDRA Bank invests Rs 50 crore in securitisation deal with Janalakshmi Financial Services - Economic Times
Its chief executive Jiji Mammen told ET that the newly formed refinancing bank was trying out new instruments to help MSMEs access capital market.


Air India flies into operating profit first time since merger
Air India flies into operating profit first time since merger - Financial Express
Air India is expected to report an operating profit of Rs 8-10 crore in FY 16, the first since the erstwhile Indian Airlines was merged with it in 2007...


1mg Technologies raises Rs100 crore in Series B funding
1mg Technologies raises Rs100 crore in Series B funding - Livemint
Fresh funds will be deployed to expand online pharmacy and diagnostics verticals, and to launch digital health products


Firms are now looking to invest in MFIs after RBI awarded small finance bank licenses
Firms are now looking to invest in MFIs after RBI awarded small finance bank licenses - Economic Times
The sector that makes credit accessible to the poor without collateral has started becoming more relevant to local corporations and institutional investors.


Suzlon buys five firms for solar operations
Suzlon buys five firms for solar operations - Livemint
The acquired companies are Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms


SBI eyes bonds to speed up rate cuts
SBI eyes bonds to speed up rate cuts - Economic Times
To bring down interest rates faster, State Bank of India plans to tap the wholesale bond market and change its mix of resources.


Life insurers selling policies that die early
Life insurers selling policies that die early - Livemint
The numbers may have improved slightly, but persistency of life insurance policies continues to be poor


Muthoot Capital looks to increase loan book to Rs 2,500 crore
Muthoot Capital looks to increase loan book to Rs 2,500 crore - Economic Times
The company entered the two-wheeler space in 2007 and in the just-concluded fiscal began funding corporates and SMEs as well, which helped it boost its loan book to Rs 1,039 crore.


Are Indian banks ready for the upcoming 'Uberization'?
Are Indian banks ready for the upcoming 'Uberization'? - Moneylife
Existing banks and new challengers would increasingly engage, target and segment consumers on the new battleground

US think tank launches India-US trade initiative
US think tank launches India-US trade initiative - Economic Times
A top US think-tank has launched an India-US trade initiative aimed to strengthen economic ties and meet the two countries' bilateral trade target of $500 billion.



Banks classify Bhushan Steel loans as non-performing assets
Banks classify Bhushan Steel loans as non-performing assets - Livemint
With debt of more than Rs40,000 crore, Bhushan Steel has been among the larger stressed accounts for banks


Govt sets up panel to lay out plan for doubling farm incomes
Govt sets up panel to lay out plan for doubling farm incomes - Livemint
Panel aims to find ways to diversify risks in farming, examine how integrated farming can boost incomes


RBI permits IDFs to issue less than 5-year tenure bonds
RBI permits IDFs to issue less than 5-year tenure bonds - Economic Times
RBI today allowed Infrastructure Debt Fund (IDF) to raise resources through bonds and commercial papers of less than five-year maturity.


Why Equitas valuation better than existing NBFC's?
Why Equitas valuation better than existing NBFC's? - Economic Times
Unlike SKS which is a pure play micro-finance company Equitas has a diversified portfolio which includes vehicle financing, MSME financing and home loans.


Investors can expect flurry of share buybacks from cash-rich firms
Investors can expect flurry of share buybacks from cash-rich firms - Economic Times
Though retail investors may face some issues with buybacks, large investors would be happy with the buybacks as they save on taxes.


Big banks can breathe easy ahead of Q4 results
Big banks can breathe easy ahead of Q4 results - Hindu Business Line
Banking shares rallied sharply on Thursday with State Bank of India, ICICI Bank and Axis Bank climbing as much as 8%.



Matrix Partners raises $110-112 million as part of its second fund
Matrix Partners raises $110-112 million as part of its second fund - Livemint
The fund would close at around $400 million by the second half of 2017 and would be dedicated to new investments


SoftBank investors call for internal probe of Nikesh Arora
SoftBank investors call for internal probe of Nikesh Arora - Livemint
SoftBank denies that Nikesh Arora has done anything wrong, calls the letter

Lack of promoters' interest stalled projects in India: DBS
Lack of promoters' interest stalled projects in India: DBS - Economic Times
Of the projects being implemented, about 12% face renewed hurdles according to centre for Monitoring Indian Economy data.


Indian CXOs most likely to bend rules to achieve financial goals
Indian CXOs most likely to bend rules to achieve financial goals - Livemint
EY study shows 70% of Indian respondents will take to unethical means to achieve targets, as against 36% globally


RBI allows NBFC sponsored infra debt funds to raise money via short-term bonds
RBI allows NBFC sponsored infra debt funds to raise money via short-term bonds - Livemint
The move could bring down cost of borrowing for infrastructure debt funds


Indusind Bank goes online for loan disbursals; expects auto and construction to fuel lending
Indusind Bank goes online for loan disbursals; expects auto and construction to fuel lending - Economic Times
Consumer loans including vehicle loans now consist 44% of IndusInds loan book up from 41% in March 2015. Sobti said the bank will ensure that the corporate to retail loan ratio is 50-50.


Ujjivan expects modest growth on way to becoming a small bank
Ujjivan expects modest growth on way to becoming a small bank - Economic Times
The company will be focusing on growing its individual loan portfolios, mainly the micro SME funding and the housing segment.


Banks cannot seek details about my foreign assets: Vijay Mallya
Banks cannot seek details about my foreign assets: Vijay Mallya - Livemint
Vijay Mallya offers Rs1,590 crore to Supreme Court as intent to pay debt



Three more Housing.com co-founders decide to quit
Three more Housing.com co-founders decide to quit - Livemint
Abhishek Anand, Ravish Naresh and Sanat Ghosh, co-founders of real estate portal Housing.com, quit the company two weeks ago to start their own venture


Finance Ministry looks to expedite clearances to FDI proposals
Finance Ministry looks to expedite clearances to FDI proposals - Daily News Analysis
Finance Ministry looks to expedite clearances to FDI proposals - FDI into the country increased by 40% to USD 29.44 billion during April-December of 2015-16.


PSU oil firms to spend Rs2,500 crore to open 3,100 fuel stations
PSU oil firms to spend Rs2,500 crore to open 3,100 fuel stations - Livemint
According to officials at oil marketing firms, full impact of diesel price deregulation introduced in October 2014 will be seen this fiscal year


NSEL scam: Sebi starts probing brokers for mis-selling products
NSEL scam: Sebi starts probing brokers for mis-selling products - Economic Times
Various aspects of the case, which broke out in 2013 at the National Spot Exchange Ltd (NSEL), are being probed by the Sebi.


Payments banks do not have a viable business model: SBI chief Arundhati Bhattacharya
Payments banks do not have a viable business model: SBI chief Arundhati Bhattacharya - Economic Times
Small and payments banks have not yet devised a business model which can be termed viable, SBI Chairperson Arundhati Bhattacharya said today.


Tough times ahead for India's start-ups
Tough times ahead for India's start-ups - Livemint
Indian startups bracing for another year of drastic belt-tightening are expected to lay off hundreds more this year, bowing to pressure from investors to trim flab and restructure operations.


Sensex at 100,000! Don't make investment decisions based on fancy targets, say, technical experts
Sensex at 100,000! Don't make investment decisions based on fancy targets, say, technical experts - Economic Times
Sensex has pulled back about 25% to the Feb 2016 lows and has now rallied about 10%. Is the correction over? Let us analyse from an Elliot Wave perspective.


SunEdison said to plan bankruptcy filing as soon as Sunday
SunEdison said to plan bankruptcy filing as soon as Sunday - Livemint
SunEdison is in talks with creditors to determine which businesses to keep and which to sell in bankruptcy, people familiar with the matter said



Oriental Bank of Commerce to raise Rs 178 crore by issuing shares to LIC
Oriental Bank of Commerce to raise Rs 178 crore by issuing shares to LIC - Economic Times
The decision to issue over 2 crore shares to LIC was taken at the bank's extra-ordinary general meeting held on March 29, it said in a filing.


Fino PayTech may start operations by year-end
Fino PayTech may start operations by year-end - Economic Times
Fino is a financial solutions company engaged in domestic remittances, rural engaged in domestic remittances, rural lending and insurance.



RBI's foreign reserves with overseas banks have more than tripled
RBI's foreign reserves with overseas banks have more than tripled - Economic Times
RBI governor Raghuram Rajan has long warned of volatility in global financial markets because of divergent monetary policies.


Jugnoo raises $10 million in funding round led by Paytm
Jugnoo raises $10 million in funding round led by Paytm - Livemint
Apart from Paytm, existing Jugnoo investor Snow Leopard and new investor Rocketship.vc also participated


Steady quarter for DCB Bank; but will investors buy?
Steady quarter for DCB Bank; but will investors buy? - Livemint
Increasing the timescale of its expansion will reduce impact of expansion on earnings, but whether this will bring back investors



Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
What are Facebook's ambitions? This Economist article takes a stab at this question. Facebook has become more like a holding company for popular communications platforms than a social network. But even that description understates Mr Zuckerberg's ambitions. He is making big bets on the future of communication, mainly messaging services, artificial intelligence and virtual reality. "There were three existential threats to Facebook: WhatsApp, Instagram and Snapchat," says Jeremy Philips of Spark Capital, a venture-capital firm. "Zuckerberg bought two of them for a little more than 10% of Facebook's market cap." Aside from the blockbuster acquisitions a little-noticed deal has also proved shrewd. Facebook's bought Onavo, an Israeli startup involved in mobile analytics, for a rumoured $120m in 2013. Onavo helps Facebook track which apps are becoming popular and could be worth purchasing - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Can an algorithm be biased, possibly even racist? Today, algorithms decide how fast an Uber gets to you, whether you're approved for a loan, whether a prisoner gets parole, who the police should monitor. Ultimately, algorithms are products of human imagination, which means they can be biased. "Algorithms are like a very small child," says Suresh Venkatasubramanian. "They learn from their environment." Venkatasubramanian is a computer science professor at the University of Utah. He's someone who thinks about algorithmic fairness. Algorithmic accountability is a growing discipline across a number of fields. Computer scientists, legal scholars, and policy wonks are all grappling with ways to identify or prevent bias in algorithms, along with the best ways to establish standards for accountability in business and government. Who do you hold accountable when an algorithm makes a biased decision? More here - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Why do we NOT feel the GDP growth in India right now? This article tries to address this question through the MSME story. India has over 45 million MSMEs (micro, small and medium enterprises). Financial data on these are hard to come by, but the RBI recently released financial averages of over 2.3 lakh small enterprises that are registered with the Ministry of Corporate Affairs (there are 15 lakh companies registered overall, only 6000 are listed in the stock markets). What we read about in the media is mostly about these 6000 odd large listed companies. While sales growth in listed firms dropped from 9.1% to 4.7% to 1.4% in the past 3 years, that of SMEs was 13.3%, 8.7% and 12% respectively. Net profits showed an even more contrasting trend, where SMEs showed growth (16%, 23.6%, 12.3%), while listed firms had negative growth (-2%, -5.1%, -0.7%). MSME's contribute 35% of India's GDP and are probably doing some of the heavy lifting right now - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
So, is your business a hedgehog or a fox? Jim Collins in his book 'Good to Great' refers to this concept to explain companies that are great vs those that are average. Every time the fox tries to attack the hedgehog, the hedgehog simply rolls into a spiky ball and drives the threat away. The fox keeps trying various tactics, but the hedgehog defence is simple and impenetrable. Great companies have an ability to understand what their 'hedgehog' factor is (the one thing they are really good at) and consistently execute their way to greatness, using their single biggest differentiator as the competitive advantage. This is especially true for startups, which are resource constrained and don't have the luxury to operate multiple strategies - Comment


Liberalisation had negative impact on Indian economy: Prakash Karat
Liberalisation had negative impact on Indian economy: Prakash Karat - Economic Times
"Our industry, agriculture and finance sectors have been facing crisis with the implementation of liberalisation for the past two and a half decades," Karat said.


Have start-ups benefited from expensive Silicon Valley recruits?
Have start-ups benefited from expensive Silicon Valley recruits? - Livemint
Three high-profile exits, all fractious, in recent weeks puts focus on the millions spent on talent from the Valley


Separate morality from NPA clean-up: Raghuram Rajan
Separate morality from NPA clean-up: Raghuram Rajan - Livemint
Raghuram Rajan said the issue of bad loans gets

Is slower growth in trade the new normal?
Is slower growth in trade the new normal? - Livemint
In the recent past, gap between the volume of trade and services has not only narrowed, in fact growth in trade and services volume has been lower than the GDP growth in 2015 and is predicted to be lower in 2016 as well.


What is ICICI bank's secret to wooing so many startups?
What is ICICI bank's secret to wooing so many startups? - Economic Times
ICICI Bank on Tuesday also joined the startup bandwagon by announcing tie ups with 3 mobile based technology startups with whom the bank plans to integrate its own platform and offer innovative services to its customers.


Alcatel-Nokia merger will have minimal impact here: Sandeep Girotra
Alcatel-Nokia merger will have minimal impact here: Sandeep Girotra - Economic Times
"The impact on our operations will be minimal. It is not about the headcount."


Banks to share all transaction details in standard format
Banks to share all transaction details in standard format - Times of India
The issue was first raised by the CBI which found that while investigating an offence, banks were providing information in different formats making probe rather difficult. A meeting was then called by Central Economic Intelligence Bureau and a commonly acceptable format was designed.


Bharati Defence in talks with equity investors
Bharati Defence in talks with equity investors - Livemint
Bharati Defence is looking to secure debt financing to restart some of its projects; firm attempted restructuring under the CDR mechanism in 2013


Janalakshmi Financial Services raises $150 million in primary funding
Janalakshmi Financial Services raises $150 million in primary funding - Livemint
Janalakshmi says it will use the funds to acquire customers and build on current products


L T Finance Holdings plans to rationalise portfolio; may exit insurance business
L T Finance Holdings plans to rationalise portfolio; may exit insurance business - Economic Times
The entire restructuring is part of a plan to achieve a higher return on capital, concentrate on core areas which will deliver high growth.


How liberalization brought in a new era for business families
How liberalization brought in a new era for business families - Livemint
Liberalization allowed the best-run family businesses to reclaim their rightful place in India


Sebi to tighten disclosure norms for rating agencies
Sebi to tighten disclosure norms for rating agencies - Livemint
Sebi also considering asking the credit rating agencies to hive off their activities involving rating of instruments other than securities


SBI chief flays over-focus on retail, ignoring infra lending
SBI chief flays over-focus on retail, ignoring infra lending - Economic Times
"Every other bank is now being goaded on towards the same model (of focussing on retail segment)," Bhattacharya said at a banking conference organised by industry lobby IMC here.


Banks to share all transaction details in standard format
Banks to share all transaction details in standard format - Economic Times
This follows intelligence agencies laying emphasis on a standardised format for sharing of information by the banks, official sources said today.


Why RBI justified in asking banks to make provisions on foodgrain loans to Punjab
Why RBI justified in asking banks to make provisions on foodgrain loans to Punjab - Livemint
RBI is justified in asking banks to provide for the loans granted to Food Corporation of India for food procurement in Punjab, said minister of state for finance Jayant Sinha


Sebi proposes to allow depositories to distribute cash benefits
Sebi proposes to allow depositories to distribute cash benefits - Livemint
At present, cash benefits are distributed directly by issuer companies to investors, mostly through registrar and transfer agents


SBI may close some foreign branches after review
SBI may close some foreign branches after review - Economic Times
"We do a yearly review of our international operations, but this time we are doing a medium-to-long-term strategic review of our foreign operations," SBI Managing Director for Corporate Banking B Sriram said.


Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Retirement is a Western invention from days gone by that's based on broken assumptions that we want - and can afford - to do nothing. Okinawa, Japan has one of the longest disability-free life expectancies in the world. A study by Dan Buettner and fellow researchers in National Geographic unearthed some reasons why. They eat off smaller plates, have social groups that are life-long and most importantly, have the concept of ikigai (pronounced "icky guy") which roughly translates to "the reason you wake up in the morning". It's the thing that drives you the most. Okinawans don't have a word for retirement - Comment

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